The World Bank has released a review report on Pakistan’s federal spending, which says that the growing fiscal deficit and high debt levels are dangerous for Pakistan’s economy.
According to the review report, Pakistan can save 2723 billion rupees annually by eliminating unnecessary expenses, subsidies, increase in revenue, savings equal to 4% of GDP is possible through administrative measures.
The World Bank said that 70 percent of the federal budget is spent on loans, interest, subsidies and salaries.
The report said that the share of federal tax revenue is only 46 percent and expenditure is 67 percent.
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